Agenda item

Consideration was given to the report of the Chief Officer

The Senior Business Partner Capital and Corporate Accounting presented the Draft Statement of Accounts 2020/21 and the Authority’s financial standing as at 31^st March, 2021 (subject to audit).

The Officer went through the report and highlighted points contained therein. 

He reported that under Section 10A of the amended regulations, the deadline for the preparation of the draft Statement of Accounts was 31^st May, 2021, and publication of the final audited accounts was 31^st July, 2021.  However, in recognition of the continuing impact of the Covid-19 pandemic, Welsh Government acknowledged that additional work could be required to finalise local authority accounts for the 2020/2021 financial year, and consequently Local Authorities are now able to prepare their accounts to the extended timetable implemented for 2019/20, i.e. preparation of Draft Statement of Accounts by 31^st August, 2021 and publication of the final audited accounts by 31^st November, 2021.

The Officer confirmed that the Draft Statement of Accounts 2020/2021 was prepared and certified by 18th June, 2021 which represented a significant improvement on the previous year.  Following detailed examination by Audit Wales it was anticipated that the Accounts will be re-presented to the Governance & Audit Committee for approval in September 2021. Following approval at that meeting the Chair was required to sign and date the Accounts on behalf of the Council.

A Member enquired as to the implications for the Council in not meeting the statutory deadlines.

In response the Officer explained that the Council had failed the statutory deadline of 31^st May, 2021 by two weeks, however, Audit Wales had extended the deadline for the Draft Statement of Accounts until the end of August, and that deadline had been met.  The Statutory deadline for publication of the final accounts by 31^st July, 2021 would not be met as the audit would not be completed by that time, however, the Council will publish a set of draft Accounts with a notice stating that they will be audited over the Summer period and presented back to the Governance & Audit Committee in September.

The Member also asked whether the Council had received the monies from Welsh Government for the railway investment.

The Officer confirmed that the £71m had been received at the end of March.  The money had been put into short term investments ahead of due diligence being completed on the project.  In the event of the project not being agreed, the money would be paid back to Welsh Government.

The Audit Wales Officer said prior to the Covid pandemic there were concerns around the timeliness of the Accounts process, not only with Blaenau Gwent Council but also other Councils.  However, he assured Members that Blaenau Gwent was in a different place this year and well placed in comparison with other Councils.  He said the Council had been working towards the extended deadline and timeliness of the Draft Accounts had improved.

RESOLVED that the report be accepted and the Committee receive the Draft 2020/2021 Statement of Accounts for information, prior to the anticipated consideration for approval in September.